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10 Proven Ways to Get Referrals Without Asking
4/20/2009

I'm a big believer in asking your clients for referrals. And I know that many financial professionals just can't seem to crack through their barriers to approach their clients for referrals. All is not lost. Here are 10 proven ways to promote referrals to your clients. About 70% of the time,these techniques will result in your clients giving you referrals at some time in the future. So consider them as "planting the seed" for referrals. However, you can expect that about 30% of the time, these techniques will generate referrals right on the spot. These little things you do now will act in the same way compound interest turns consistent small deposits into riches. You'll reap the rewards for years to come. To show you how practical these techniques are, I'll bring most of them to life with a sample script.
  1. Reminder of Confidentiality. "George, there's one thing I want to run by you. Many of my clients like to introduce me to others whom they think should know about the important work I do. I just wanted you to know that should that opportunity present itself to you, the work we do is always kept completely confidential. They will never earn about your financial situation from me and vice versa. Does that make sense?"

  2. Who You Serve the Best. "George and Martha, there's something I want to mention to you. Many of my clients like to introduce me to others whom they think should know about the important work I do. Should that ever come up for you, it's good for you to know for whom our processes are best suited. These days, our practice is geared toward successful couples like yourself. They usually have children, but not always. Generally they have a combined income of over $100,000 - some of my clients are even in the $400,000 range and more. While I don't expect you to know someone's exact financial situation, you probably have a sense. Does this make sense?" [Note: Your profile range may be different, but you get the idea.]

  3. How I'll Contact Them. "Randy, quite often my clients like to recommend the work I do to others whom they care about. Should that ever come up for you, I thought you should know how I usually like to handle those situations. First of all, I don't like to surprise people with a phone call from out of the blue. I've found that everyone seems to feel most comfortable when they know I'll be contacting them and have a sense of why.
    "So, if you identify someone you think I should contact, please come to me first. Together, we'll figure out the best way for us to approach them. We'll do it in a way that suits your relationship and feels comfortable and natural to everyone. If they are
    interested, we'll likely meet for a no-obligation review - as you and I did initially. If they decide they don't care to move forward, I assure you I won't pressure them or become a pest. That's just not my style. How does all this sound?"

  4. "Don't Keep Me a Secret." I've been teaching this simple phrase for over a dozen years and I've been impressed with two things: 1) how many financial professionals are using this phrase with great success; 2) how often it results in a referral conversation
    right on the spot. It never hurts a relationship. You're not going to say to a client, "Please don't keep me a secret" and they respond, "I can't believe you said that. Give me my check back." Try saying this to your clients at the end of value oriented meetings. Add it as a PS to your handwritten notes. You can even add it to your email signature file and your voice mail. [Editor's Note: Don't Keep Me a Secret! is the title of Cates' new book from McGraw-Hill - published September, 2007]

  5. Willingness to Give Referrals. This is a great technique to get a referral conversation going with anyone who is a small business owner, salesperson,or anyone who needs referrals for their business. You can use it with your prospects, clients, friends,
    people you meet at social functions, even neighbors you meet at your kids' soccer games. "Frank, you sound like you do pretty good work for your clients. Tell me. If I ran into a good prospect for your business, how would I know it and how would you
    like me to introduce them to you?" When you demonstrate a genuine willingness to give referrals, many people will reciprocate with you. This can be a great start to a productive Center of Influence relationship.

  6. Celebrate Referrals. Every time you meet a new prospect through a referral, elebrate it. Talk about the person you know in common. Tell them "It's great Tom introduced me to you. When I meet folks through referrals like this, it leaves me with more time to serve my clients, instead of spending time looking for clients. Make sense?" ("Sure does.) "And, quite frankly, it's how most people prefer to meet their financial advisor."

  7. Who Should I Thank? I got this simple technique from my business manager, Karen Hood. One day she was talking on the phone to a prospective client who had called our office to see how we might be a resource for them. At some point in the conversation, she said to him, "By the way, who referred you to us so we know who to thank?" When
    I heard this, it was like that beer commercial where one of the cartoon characters says, "Brilliant!" Put the following message on your voice mail. "This is Mike Smith. Sorry I missed your call. Please leave a message at the tone. And if you were referred to
    us, please let us know who we need to thank." This sends the message to all who call you that you get referrals on a regular basis - you are referable. And that you have an attitude of gratitude.

  8. Never Too Busy. Here's a simple one. Just say to your clients, "I'm never too busy to see if I can help your friends, family, or colleagues with the important work I do."

  9. Earn the Right. Tell your clients something like the following (early in the relationship), "One of the ways I know I'm doing a good job for my clients is when they tell others about me. And I know the only way that happens is from me providing first class advice and first class service. I hope that at some point, you will trust me and the work I do well enough to tell others. Fair enough?"

  10. By Referral Only. Have "By Referral Only" printed onto your business card. Or when you hand someone your card, write those words on it. It sends the message of importance and exclusivity. It's important that you're not obnoxious about asking for referrals. And it's equally important that you find soft ways to keep the topic lively in your clients' awareness. Promoting referrals in the above ways will do just that. You'll never hurt a relationship, you'll plant a very powerful seed that can bear fruit later, and you will often walk away with referrals on the spot.


Posted By: Bill Cates.

Go to www.referralcoach.com for more information about this blogger.

This article is relevant to the following keyword(s): 'referral training, referral tips'

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